Veritex’s (VBTX) “Neutral” Rating Reiterated at Piper Sandler

Piper Sandler reiterated their neutral rating on shares of Veritex (NASDAQ:VBTX) in a research note released on Wednesday,Benzinga reports. The brokerage currently has a $34.00 price objective on the financial services provider’s stock, up from their prior price objective of $30.00.

VBTX has been the subject of several other reports. Raymond James Financial lowered Veritex from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $31.00 to $28.00 in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods cut their price objective on Veritex from $33.00 to $30.00 and set a “market perform” rating on the stock in a research report on Thursday, April 24th. Stephens reaffirmed an “equal weight” rating and set a $30.00 target price on shares of Veritex in a research report on Wednesday, April 23rd. William Blair raised shares of Veritex to an “outperform” rating in a report on Monday. Finally, DA Davidson reduced their price target on shares of Veritex from $34.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.92.

Veritex Price Performance

VBTX opened at $32.25 on Wednesday. Veritex has a 1 year low of $20.10 and a 1 year high of $33.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 15.81 and a beta of 1.03. The firm’s fifty day moving average price is $26.00 and its two-hundred day moving average price is $25.19.

Veritex (NASDAQ:VBTX) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.02. Veritex had a net margin of 14.12% and a return on equity of 7.51%. During the same quarter in the previous year, the firm earned $0.52 EPS. As a group, analysts anticipate that Veritex will post 2.26 earnings per share for the current fiscal year.

Veritex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.73%. Veritex’s dividend payout ratio is presently 43.14%.

Institutional Investors Weigh In On Veritex

Large investors have recently added to or reduced their stakes in the company. Deutsche Bank AG lifted its holdings in Veritex by 48.7% during the fourth quarter. Deutsche Bank AG now owns 47,636 shares of the financial services provider’s stock valued at $1,294,000 after purchasing an additional 15,596 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Veritex in the first quarter valued at approximately $1,085,000. Canada Pension Plan Investment Board purchased a new stake in shares of Veritex during the 4th quarter valued at approximately $1,057,000. Handelsbanken Fonder AB bought a new position in Veritex in the 1st quarter worth approximately $227,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Veritex by 20.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 109,844 shares of the financial services provider’s stock valued at $2,983,000 after buying an additional 18,954 shares in the last quarter. Hedge funds and other institutional investors own 88.31% of the company’s stock.

Veritex Company Profile

Veritex Holdings, Inc operates as the bank holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company accepts deposit products include demand, savings, money market, and time accounts. Its loan products include commercial real estate and general commercial, mortgage warehouse loans, residential real estate, construction and land, farmland, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.